FB Financial Corporation (FBK): History, Ownership, Mission, How It Works & Makes Money

Given the current market volatility, how is FB Financial Corporation (FBK) managing to not just survive but thrive in the competitive regional banking landscape?

The numbers from the third quarter of 2025 defintely tell a clear story: the company reported adjusted diluted earnings per share of $1.07, significantly beating analyst consensus, and grew its total assets to approximately $16.2 billion following the Southern States merger.

That strong performance, coupled with a Net Interest Margin (NIM-the difference between the interest income generated and the amount of interest paid out) expansion to 3.95%, signals a highly effective strategy. Do you know the mission and ownership structure driving this kind of growth, and more importantly, how they plan to sustain it?

FB Financial Corporation (FBK) History

You need to understand that FB Financial Corporation (FBK) isn't a new player; its roots go back over a century, starting as a small community bank. This long history, punctuated by strategic acquisitions and a major 2025 merger, is why the company's total assets are now sitting around $16.0 billion as of late 2025, shaping its current regional powerhouse status.

FB Financial Corporation's Founding Timeline

Year established

The company was established in 1906, initially chartered as Farmers Bank.

Original location

The original institution, Farmers Bank, was founded in Franklin, Tennessee, to serve the local farming community.

Founding team members

The institution began as Farmers Bank, and while the original charter members are not widely documented, the company credits its founding to individuals like James W. Ayers. The Ayers family connection became central to the company's trajectory decades later.

Initial capital/funding

Specific details on the initial capital from the 1906 charter are not publicly available, but the company started as a local community bank, suggesting a modest initial funding base focused on local deposits.

FB Financial Corporation's Evolution Milestones

FB Financial Corporation's Transformative Moments

The company's path from a small-town bank to a major regional player wasn't a slow drift; it was driven by two key moments-the 1986 leadership change and the 2025 merger. The 1986 acquisition by the Ayers family was the pivot that moved the bank from a local institution to one with a focused growth strategy.

The 2016 public listing was crucial, giving the company the currency (stock) to fuel its acquisition strategy. But the most recent, most impactful move was the July 1, 2025, merger with Southern States Bancshares, Inc. This wasn't just another small deal; it immediately drove a significant increase in the company's scale.

• Loans held for investment (HFI) jumped to $12.30 billion by the end of Q3 2025.
• Total deposits climbed to $13.81 billion as of September 30, 2025.
• The deal pushed the company's total assets to around $16.0 billion, giving it a much stronger competitive position in the Southeast.

The merger also helped push the net interest margin (NIM) to 3.95% in the third quarter of 2025, showing the financial benefits of the combined balance sheet. That's a defintely strong signal of operational synergy. If you want to dive deeper into who's backing this growth, you should check out Exploring FB Financial Corporation (FBK) Investor Profile: Who's Buying and Why?

FB Financial Corporation (FBK) Ownership Structure

FB Financial Corporation (FBK) is a publicly traded financial holding company, meaning its ownership is distributed among a diverse group of institutional, insider, and individual shareholders.

This structure ensures governance is subject to public market scrutiny and Securities and Exchange Commission (SEC) regulations, but it also means a few large players, particularly institutional investors, hold the majority of the voting power.

FB Financial Corporation's Current Status

FB Financial Corporation is a public company, trading on the New York Stock Exchange (NYSE) under the ticker symbol FBK. This public listing requires significant financial transparency and adherence to strict reporting standards, which is defintely a plus for investors.

As a bank holding company, its primary subsidiary is FirstBank, operating across the Southeast in states like Tennessee, Alabama, Kentucky, and Georgia. As of September 30, 2025, the company reported total assets of approximately $16.24 billion and total shareholders' equity of $1.98 billion.

FB Financial Corporation's Ownership Breakdown

The company's ownership is heavily weighted toward institutional investors, which is typical for a well-established financial institution. This concentration means large firms like Vanguard Group Inc. and JPMorgan Chase & Co. have significant influence over corporate decisions.

The total number of common shares outstanding was 51,744,534 as of November 17, 2025, following a concurrent share repurchase. Here's the quick math on who owns what, based on 2025 fiscal year data:

To be fair, the influence of the insider group, specifically the Estate of James W. Ayers, remains substantial at 13.70%, even after selling a block of shares in November 2025. This kind of large, concentrated insider holding can stabilize the stock, but it also gives a single entity a powerful voice in strategic matters. For a deeper dive into the company's financial stability, you should check out Breaking Down FB Financial Corporation (FBK) Financial Health: Key Insights for Investors.

FB Financial Corporation's Leadership

The executive team steering FB Financial Corporation is a mix of seasoned veterans, with a recent strategic realignment in October 2025 aimed at bolstering growth across the Southeast. The average tenure for the management team is about 3.4 years, but the CEO has been in place for over a decade, providing continuity.

The key leaders, effective as of November 2025, are:

• Christopher T. Holmes: President, Chief Executive Officer, and Director. He has been CEO since January 2012.
• Michael M. Mettee: Chief Operating Officer and Chief Financial Officer. He stepped into this dual role on October 1, 2025, expanding his oversight to include banking markets and credit operations.
• Scott J. Tansil: Chief Business and Operations Officer. He transitioned to this new role on October 1, 2025, focusing on business and operational strategy.
• Mark E. Hickman: Chief Human Resources Officer.
• Aimee T. Hamilton: Chief Risk Officer.

This leadership structure shows a clear focus on integrating financial strategy with operational execution, which is crucial for a bank expanding its regional footprint. The changes in the COO/CFO roles reflect a commitment to strengthening management for continued success and expansion opportunities.

FB Financial Corporation (FBK) Mission and Values

FB Financial Corporation's core purpose is to be a community-focused financial partner, committed to fostering long-term value for its clients, communities, and shareholders through a disciplined, high-performance operating model.

This commitment is evident in the company's strategic moves, like the successful merger with Southern States Bancshares, Inc. on July 1, 2025, which helped drive the third-quarter 2025 adjusted net income to $57.6 million.

Given Company's Core Purpose

The company's cultural DNA is rooted in a blend of traditional community banking principles and a modern, aggressive pursuit of scale and profitability. This dual focus allows it to maintain an empathetic approach while delivering strong shareholder returns.

Here's the quick math: The focus on operational efficiency, evidenced by the core efficiency ratio improving to 53.3% in the third quarter of 2025, shows that community focus doesn't mean sacrificing performance.

Official Mission Statement

While a single, formal sentence is not always published, the company's operating philosophy centers on a clear promise to its stakeholders. It's about providing essential financial solutions and building lasting relationships across its footprint in Tennessee, Kentucky, Alabama, and Georgia.

• Build enduring relationships with customers and communities.
• Provide comprehensive financial solutions with integrity and teamwork.
• Focus on long-term value creation for all stakeholders.

Vision Statement

The vision is to be the premier regional bank in the Southeast, one that successfully capitalizes on scale while preserving the high-touch, community-banking style its clients expect. This means driving growth and profitability without losing the personal touch.

• Achieve aggressive goals in both growth and profitability.
• Capitalize on scale to drive higher returns for shareholders.
• Maintain a strong, stable balance sheet with total assets near $16.0 billion.

You can see this strategy in action by Exploring FB Financial Corporation (FBK) Investor Profile: Who's Buying and Why?

Given Company slogan/tagline

FB Financial Corporation does not widely use a single, static corporate tagline, instead preferring to let its actions speak. However, their communications defintely reflect a theme of partnership and commitment to the local economy.

• Community Banking: The core operating model is designed to deliver a community banking style approach to serving clients, even as the company grows.
• Superior Returns: Management is focused on deploying capital to deliver superior returns, highlighted by the September 2025 authorization for a $150 million common stock repurchase program.

FB Financial Corporation (FBK) How It Works

FB Financial Corporation, operating through its subsidiary FirstBank, acts as a traditional, relationship-focused regional bank, generating value by efficiently managing the spread between interest earned on loans and investments and interest paid on deposits-what we call the Net Interest Margin (NIM). The business is split into two core segments: Banking and Mortgage, with the Banking segment driving the majority of revenue through deposits and lending. Honestly, it's a classic bank model, but executed with a regional focus and scale.

FB Financial Corporation's Product/Service Portfolio

The company's offerings are designed to serve a diverse client base-from small businesses needing working capital to high-net-worth individuals seeking fiduciary services. The recent acquisition of Southern States Bancshares, Inc. on July 1, 2025, expanded this reach significantly. Here's a look at the core value propositions:

FB Financial Corporation's Operational Framework

The operational engine of FB Financial Corporation is centered on a dual-segment approach, Banking and Mortgage, which allows for distinct focus while maintaining a unified customer relationship. The key to their profitability is the Net Interest Income (NII) component, which was $148.1 million in the third quarter of 2025. That's the core business.

• Balance Sheet Growth: As of September 30, 2025, the company managed total assets of $16.24 billion, with Loans Held for Investment (HFI) at $12.30 billion and Total Deposits at $13.81 billion. The Southern States merger was the main driver of this jump.
• Deposit Gathering: The firm maintains a network of 91 full-service branches across Tennessee, Alabama, Kentucky, and Georgia, which is the primary source of core deposits. The cost of deposits was 2.53% in Q3 2025, a slight increase due to acquired, higher-rate deposits.
• Loan Origination and Risk Management: Loans are diversified across commercial and consumer categories. Nonperforming loans HFI as a percentage of total loans HFI was 0.79% at the end of Q1 2025, which is a key credit quality metric to defintely monitor.
• Efficiency Focus: Management is focused on improving the core efficiency ratio (noninterest expense as a percentage of revenue) to sustain profitability, which was 63.2% in Q3 2025, down from 85.1% in Q3 2024.

You can see how the company aligns its resources to its growth strategy by reviewing its Mission Statement, Vision, & Core Values of FB Financial Corporation (FBK).

FB Financial Corporation's Strategic Advantages

The company's success isn't just about the numbers; it's about a clear strategy that leverages its size and market position. They occupy a sweet spot in the market.

• Community Bank Model with Regional Scale: They combine the local decision-making and relationship-focused service of a community bank with the product sophistication and resources of a larger regional institution. This operating model gives them a competitive edge over smaller, more localized banks and larger, less personal national banks.
• Strategic Geographic Footprint: The concentration in high-growth metropolitan markets across the Southeast U.S., like Nashville, combined with the stable base in community markets, provides both high-growth opportunity and economic stability.
• Accretive Acquisition Strategy: The successful integration of Southern States Bancshares, Inc. in July 2025 is a concrete example of using M&A to expand their market share and operational capabilities, adding approximately $2.87 billion in total assets. This expansion is expected to boost revenue and margins.
• Digital Investment: They are actively investing in technology and digital banking platforms to meet client demands for convenience, which is crucial for attracting new customers and generating lower-cost core deposits.

Here's the quick math: the Q3 2025 Net Interest Margin of 3.95% is a clear indicator that their core lending and deposit strategy is working well in the current rate environment. What this estimate hides is the ongoing integration cost of the Southern States merger, which must be managed to realize the full synergy benefit.

FB Financial Corporation (FBK) How It Makes Money

FB Financial Corporation, the parent company of FirstBank, primarily makes money by operating as a traditional bank-generating a positive spread (net interest income) between the interest earned on its loan and investment portfolio and the interest paid out on customer deposits and borrowings. Secondarily, it earns significant revenue from noninterest activities, mainly through its mortgage banking operations.

FB Financial Corporation's Revenue Breakdown

For the third quarter of 2025, FB Financial Corporation reported total revenue of approximately $174.5 million, a figure heavily weighted toward the core banking function. This strong performance was significantly boosted by the successful merger with Southern States Bancshares, Inc., which closed on July 1, 2025.

The Net Interest Income stream, which is the lifeblood of any bank, saw a substantial increase of 38.9% compared to the third quarter of 2024, driven by both balance sheet growth from the merger and an expanded Net Interest Margin (NIM). The Noninterest Income stream, at $27.3 million, is largely comprised of mortgage banking income, which accounted for $13.5 million of that total in Q3 2025.

Business Economics

The fundamental economic engine for FB Financial Corporation is the Net Interest Margin (NIM), which measures the profitability of its core lending and borrowing activities. The goal is simple: maximize the yield on earning assets (like loans) while minimizing the cost of funds (like deposits).

• Spread Income: The company's NIM expanded to 3.95% in the third quarter of 2025, up from 3.68% in the prior quarter. This expansion is defintely a key indicator of pricing power and effective balance sheet management, especially in a dynamic interest rate environment.
• Strategic Growth: The merger with Southern States Bancshares, Inc. in July 2025 was a major strategic move, instantly adding $2.87 billion in total assets and expanding the bank's footprint into new, high-growth markets like Alabama and Georgia. This scale immediately boosts both interest income and fee-based revenue potential.
• Funding Strategy: The bank relies heavily on customer deposits, which totaled $13.81 billion as of September 30, 2025, to fund its loan portfolio of $12.30 billion. The cost of deposits is a critical variable; it rose slightly to 2.53% in Q3 2025, primarily due to the higher-rate deposits acquired in the merger.
• Fee-Based Revenue: The noninterest income provides a necessary diversification buffer. Mortgage banking income, which makes up nearly half of the noninterest revenue, is subject to fluctuations in interest rates, which affect refinancing and purchase activity.

Here's the quick math: A 3.95% NIM on a large and growing loan portfolio of $12.30 billion generates substantial interest revenue, even if the cost of funding rises a little.

FB Financial Corporation's Financial Performance

The Q3 2025 results show a strong operational quarter, with key metrics pointing to successful integration and execution of the growth strategy. The focus is on adjusted metrics, as they strip out the one-time, non-core costs associated with the Southern States merger.

• Adjusted Earnings Per Share (EPS): Diluted adjusted EPS hit $1.07 for Q3 2025, significantly beating the prior quarter's $0.88. This is a clean one-liner that shows profitability is accelerating.
• Efficiency Ratio: The adjusted efficiency ratio was 53.3% in Q3 2025. For a bank, a lower number is better, meaning it costs less to generate a dollar of revenue. The goal is to drive this ratio lower as merger synergies take hold.
• Return on Tangible Common Equity (ROTCE): The adjusted ROTCE stood at an impressive 14.7% for the quarter. This metric is a crucial measure of how effectively the bank is using shareholder capital to generate profit.
• Credit Quality: Nonperforming loans held for investment (HFI) as a percentage of total loans HFI decreased slightly to 0.94% at the end of Q3 2025, a small but positive sign of credit risk management.

The company's tangible book value per common share was $29.83 as of September 30, 2025, reflecting the underlying value of the bank's assets after accounting for intangible items. What this estimate hides is the ongoing integration risk from the Southern States merger, which could still impact near-term performance. For a deeper dive into the bank's stability, you can read Breaking Down FB Financial Corporation (FBK) Financial Health: Key Insights for Investors.

FB Financial Corporation (FBK) Market Position & Future Outlook

FB Financial Corporation (FBK) is positioned as a mid-sized regional bank holding company in the rapidly growing Southeast US, with total assets of approximately $16.24 billion as of September 30, 2025, following the successful merger with Southern States Bancshares, Inc.. The company's future outlook is tied to its ability to fully integrate the recent acquisition, drive efficiency improvements, and capitalize on organic growth in its core markets across Tennessee, Kentucky, Alabama, and Georgia. It's a classic regional bank story: grow through smart acquisitions and relentless focus on the customer experience.

Competitive Landscape

In the highly fragmented and competitive Southeast banking sector, FB Financial Corporation competes with both larger super-regional banks and smaller, locally focused community banks. The company's strategy is to maintain a strong community banking presence while achieving the scale necessary to compete on technology and product offerings, especially against larger regional players like Ameris Bancorp and Hancock Whitney Corporation.

Opportunities & Challenges

The company is deliberately focused on internal optimization and capital deployment following its July 1, 2025, merger with Southern States Bancshares, Inc., which added approximately $2.87 billion in assets. This strategic move sets the stage for both near-term opportunities and integration-related risks. The board's authorization of a $150 million common stock repurchase program until January 31, 2027, signals confidence in the company's valuation and capital position.

Industry Position

FB Financial Corporation holds a strong regional position, particularly in Tennessee, where it ranked 6th with a deposit market share of 4.1% as of June 30, 2024. This is a solid base, but it shows the bank is still a smaller player compared to the national and super-regional banks that dominate the top spots. The company's recent performance, including adjusted net income of $57.6 million for the third quarter of 2025, demonstrates operational strength despite a challenging rate environment.

• The core strategy is to grow loans and deposits organically in high-growth metropolitan areas like Nashville, while selectively acquiring smaller banks to gain scale and efficiency.
• The focus on improving the net interest margin (NIM), which reached 3.95% in Q3 2025, is defintely a key driver of profitability post-merger.
• Its current market capitalization of approximately $3.2 billion (as of October 2025) places it firmly in the mid-cap regional bank category, often making it a target for investors seeking growth through M&A and operational efficiency.

You can get a deeper look into the investor base and sentiment by reading Exploring FB Financial Corporation (FBK) Investor Profile: Who's Buying and Why?